6,199 Shares in First Financial Bankshares, Inc. (NASDAQ:FFIN) Purchased by Inspire Advisors LLC

Inspire Advisors LLC purchased a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 6,199 shares of the bank’s stock, valued at approximately $229,000.

A number of other institutional investors also recently bought and sold shares of FFIN. Olistico Wealth LLC acquired a new stake in shares of First Financial Bankshares in the second quarter worth $29,000. Hexagon Capital Partners LLC raised its stake in shares of First Financial Bankshares by 81.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after buying an additional 415 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of First Financial Bankshares in the 2nd quarter valued at about $41,000. Quarry LP purchased a new stake in shares of First Financial Bankshares in the second quarter worth about $83,000. Finally, Point72 DIFC Ltd acquired a new stake in First Financial Bankshares during the second quarter worth about $97,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Performance

First Financial Bankshares stock opened at $38.40 on Friday. The company’s fifty day moving average price is $36.44 and its 200 day moving average price is $33.00. The stock has a market capitalization of $5.49 billion, a P/E ratio of 27.43 and a beta of 0.78. First Financial Bankshares, Inc. has a 1 year low of $22.84 and a 1 year high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $184.94 million during the quarter, compared to analysts’ expectations of $134.10 million. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. Sell-side analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.88%. First Financial Bankshares’s payout ratio is currently 51.43%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Truist Financial upped their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stephens increased their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday.

First Financial Bankshares Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.